The fact that the railway development in Azerbaijan project was not discussed in the meeting of the Board of Directors of the European Bank for Reconstruction and Development (EBRD) held on January 26 is related with that the works concerning the project have not been completed yet.

"The project has not been completed yet. Preparatory works will be finished next month. In spite of it, an agreement has already been reached with the EBRD concerning funding of the project," the deputy minister said.

It should be noted that the EBRD plans to grant $50 million credit for funding implementation of "Renovation of the locomotive fleet" project. This project includes construction of a railway depot, purchasing of new locomotives and machines used in construction of the railway.